Cloetta publ : AB interim report Q1, January – March 2020
April 24, 2020 at 02:18 am EDT
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Start of the year negatively impacted by COVID-19
Net sales for the quarter decreased by 2.6 per cent to SEK 1,518m (1,559) including a positive impact from foreign exchange rates of 1.4 per cent.
Operating profit amounted to SEK 149m (164). Profit for the period amounted to SEK 44m (99). Operating profit, adjusted for items affecting comparability, amounted to SEK 152m (166).
Cash flow from operating activities amounted to SEK 67m (154).
Net debt/EBITDA ratio was 2.4x (2.4).
As a consequence of the current uncertainty due to the global outbreak of COVID-19, the Board of Directors decided to withdraw the dividend proposal of SEK 1.00 per share.
The expected impact from COVID-19 is that the demand for branded packaged products will be lower during the second quarter and that the demand for pick & mix will be significantly reduced. Cloetta also assesses that the operating profit, adjusted, for the second quarter will be significantly lower than prior year.
Please find enclosed the full report.
The interim report will be presented at a conference call with web presentation Friday 24 April at 10 a.m. (CET). Information is available at www.cloetta.com.
This information is information that Cloetta AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, by the below contact person, for publication on 24 April, 2020, at 08:00 am CET.
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Nathalie Redmo, Head of IR and Communications, +46 766 96 59 40
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Cloetta AB published this content on 24 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2020 06:17:03 UTC
Cloetta AB is a Sweden-based company active in the chocolate and sugar confectionery market. The primary ingredient for its products is cocoa. The Company uses cocoa mass that is produced from seeds found in the fruit of cocoa trees grown along the equator. It produce and sells products within three main categories, namely Chocolate, which comprises chocolate wafers, plates, pralines and dragees; Sugar confectionery, which comprises foam, wine gums, liquorice, toffees, hard boiled candy, chewy candy, toffee/fudge/caramel and lollypops, and Refreshment, which comprises pastilles and chewing gum. The Company owns such brands, as Lakerol, Cloetta, Jenkki, Kexchoklad, Malaco, Sportlife, Saila, Red Band and Sperlari. The Company has 12 production units in six countries. In January 2014, it acquired Alrifai Nutisal AB. In May 2014, it acquired 75% of shares of Aran Candy Ltd and the brand The Jelly Bean Factory, Irish company producing and selling gourmet Jelly Beans.
CLOETTA AB 
